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Projects 15 Feb 2012

Launch of residential project BUL

86 New Units Through the Accès Condos Program

Today, the Société d’habitation et de développement de Montréal (SHDM) reports the launch of BUL, a condominium project of 86 units through the Accès Condos program. Located at the intersection of Ontario and Lespérance Streets, at the eastern end of the Sainte-Marie neighbourhood, this project is designed by the architect firm Chaloub + Beaulieu, in collaboration with the SHDM.

Two other buildings from the AccèsLogis Québec Program will complete this housing development. The first will hold 92 rental units for the elderly via the organization Inter-Loge Centre-Sud, and the other will hold 31 rental units aimed at the Réseau Habitation Femmes de Montréal. “This diversity in housing units reminds us of the SHDM’s social purpose and its willingness to foster the integration of diverse clienteles”, states Johanne Goulet, Interim General Manager of the SHDM.

The Revitalization of the Sainte-Marie Neighbourhood
The revitalization of the Sainte-Marie sector has already begun, as shown with the redevelopment of the Coupal and Médéric-Martin parks. In addition, the Programme particulier d’urbanisme (PPU) of the Sainte-Marie neighbourhood, adopted by the city council last January 23, puts forth three main directions: the quality of living environments, the marketing of the territory’s development potential and the development of a diversified economy. As a result, investments of more than $12.5 million will be allocated to the revitalization of Ontario Street and the Frontenac hub surrounding the metro station, to improve safety and to render it a friendly living environment. The Ville-Marie borough also plans to create a public space in the parking lot located on Ontario Street, in front of the Gédéon-Ouimet school.

Undoubtedly, the initiatives dedicated to the development of this sector will create an added value for the co-owners of the BUL project. “With the role of the SHDM namely being to foster the revitalization of unstructured environments, it intervenes where private developers could not intervene on their own, and the Accès Condos program thus serves as lever for development”, adds Ms. Goulet.

An Urban Project, For an Urban Clientele
The six-storey building will offer, starting on the third floor, a spectacular view of the St. Lawrence River or the downtown area. Each unit will include a storage space in the basement or next to the unit itself, as well as access to the bike room. Indoor parking spaces will be sold as an option and the majority of units will either have a balcony or private terrace.

All BUL co-owners will have access to a common terrace located on the rooftop, a first in the history of the Accès Condos program. This space will carry abundant vegetation, to counter urban heat islands. Similar to an “open skies” living room, this terrace will foster exchanges and relaxation, in addition to allowing co-owners to admire the fireworks that take place every summer in Montreal.

The BUL project is located in a prime location, close to downtown Montreal and to an array of services. The Frontenac and Préfontaine metro stations are within walking distance, and the 125 Ontario bus route, which operates to and from Viau and Place des Arts metro stations, will have a stop right in front of the building. Also, in the vicinity are five BIXI stations, the Berges-Est bike path that skirts the St. Lawrence River and the Centre Jean-Claude-Malépart, which includes a large pool, a training room and gyms. In addition, BUL is only a few steps away from HOMA, which has trendy stores, the popular place Valois, the promenade Ontario and the Maisonneuve Market.

Quality and Affordable Condominiums
Atelier Chaloub + Beaulieu has designed numerous well-known condominiums, starting with Le Novello I and II, La Confiserie, Le Phoenix and La Tannerie, all within the context of the Accès Condos Program. In addition, 90% of the units are eligible for fundingunder the City of Montreal’s Home Ownership Program and since BUL aims for Novoclimat certification, this will increase the maximum limit of eligible purchasing prices by $2,500.

About the Accès Condos Program
The Accès Condos Program serves two objectives: it promotes access to property in Montreal and revitalizes sites that are more difficult to exploit. The popularity of the program lies in the 10% purchase credit provided by the SHDM, which acts as downpayment in the purchase of a condominium. Since the start of the Accès Condos Program in 2005, the SHDM has signed 23 agreements with 16 different contractors and has enabled more than 2,500 households to become owners while remaining on the island of Montreal.

The SHDM’s mission is to contribute to the economic and social growth of the City of Montreal through the development of its residential, institutional, industrial, commercial and cultural real estate assets. The SHDM is a privileged partner of the City of Montreal in the implementation of its policies and in the achievement of its objectives. In addition to managing the Accès Condos Program, the SHDM owns more than 4,700 affordable housing properties and 309 units in some fifteen rooming houses. Finally, it provides property management services for several commercial buildings.